7 Figure traders

[tmso]

Yes I would agree, I was responding to one of the benefits of prop firms is it allows traders the ability to do these types of strategies that are arb based since it provides leverage. People reading these threads should understand the firms exist for a reason but never think they will just teach you everything and sell you the key to riches. Better to go there if you have a strategy already and then keep it a secret too.

Keep it a secret? Wouldn't the prop form be able to see all your trades? o

 

[mr_byte31]

Having read a lot of trading books in my life, I can tell you that SMB's Bellafiore "One Good Trade" is a must for intraday traders. I wish I had read that when I started.

What exactly you like about the book ?!

 

[ElectricSavant]

Well if I made a phone call to my Broker and saved 1K off of that...yes it would be worth the phone call...

ES

would someone care about commissions fees if he is making 7 figures?
would it matter for him if he pay 10K commissions at the end of the year?

 

[ElectricSavant]

I think it is all about respecting money and fighting not to love it...

Es

 

[murray t turtle]

???
I dont think those guys are trend following

%% Only looked//listened twice; 7 or 8 w would be more accurate.
7 or 8 of them are trend traders=unless they are selling options.NOT sure if he meant to say HI Risk hi reward?? but since he said they make more than they lose [usually LOL] maybe OK??

 

[comagnum]

These guys are SCALPERS! I am not scared of you..

SMBs largest earner is a discretionary multi stock trader with a typical holding time of several days to a few weeks using daily chart & volume patterns to anticipate/plan his trades along with some fundamentals to build into large winning positions over a period of time.

The retail day trader thinks pros trade just like they do - that's a hoot. Most scalpers are getting scalped by the super computers.

 

[ElectricSavant]

If you say so...I only saw the video in this thread...

ES

SMBs largest earner is a discretionary multi stock trader with a typical holding time of several days to a few weeks. He uses daily chart & volume patterns to anticipate/plan his trades along with some fundamentals.

The retail day trader thinks pros trade just like they do - that's a hoot. Most scalpers are getting scalped by the super computers.

 

[qlai]

The retail day trader thinks pros trade just like they do - that's a hoot.

Just to be clear, prop traders are in the pro camp?

 

[schweiz]

Well if I made a phone call to my Broker and saved 1K off of that...yes it would be worth the phone call...

ES

I don't agree. I see everything in relation to all my costs and all my profits.

If this 1K would represent 2% of the total amount of paid commissions I would do nothing. Because you can probably save 2% on everything you do in life. Watch your list of things that improve your net income and take the most important savings (in percentages!) first.
If you would make 50K a day it might be better to focus on trying to increase your profits by 0.1% which would be roughly 12K instead of saving 1K in commissions.

If people would not watch their savings in percentages, all billionaires should be trying all day to save money on food, cars, cloths, holidays, hobbies... In short they would have no time anymore to enjoy life. They would be busy to save small money, small money that they even don't need to have a good life. Why waste your time on something that has no importance at all in life? Spent this time on your family and friends.

 

[ElectricSavant]

If Bill Gates stops on the sidewalk to pick up a 100 hundred dollar bill...he loses money right?

Es

I don't agree. I see everything in relation to all my costs and all my profits.

If this 1K would represent 2% of the total amount of paid commissions I would do nothing. Because you can probably save 2% on everything you do in life. Watch your list of things that improve your net income and take the most important savings (in percentages!) first.
If you would make 50K a day it might be better to focus on trying to increase your profits by 0.1% which would be roughly 12K instead of saving 1K in commissions.

If people would not watch their savings in percentages, all billionaires should be trying all day to save money on food, cars, cloths, holidays, hobbies... In short they would have no time anymore to enjoy life. They would be busy to save small money, small money that they even don't need to have a good life. Why waste your time on something that has no importance at all in life? Spent this time on your family and friends.